Otovo announced it has signed a non-binding letter of intent to acquire SunSystem Technology (SST), a U.S.-based provider of operations and maintenance (O&M) services for distributed energy generation assets. The proposed acquisition would expand Otovo’s U.S. presence with a nationwide service footprint and strengthen its position in solar asset maintenance, monitoring, and energy services.
Under the terms of the proposed transaction, Otovo would pay approximately $770,000 in cash at closing and provide a three-year earn-out of up to $1.3 million tied to net income targets, payable in a combination of cash and Otovo shares. The maximum total consideration would be approximately $2.1 million.
SST generated roughly $14 million in revenue during 2025, implying a maximum enterprise value-to-revenue multiple of approximately 0.15x if the full earn-out is achieved. The company has more than a decade of experience providing O&M services for residential solar portfolios, commercial system owners, asset managers, EV charging infrastructure, and energy storage systems across 14 U.S. states.
Otovo plans to integrate SST’s field operations into its Endurance AI platform, which automates service intake, dispatch, scheduling, monitoring, and supply chain management. The combined platform is expected to create operational efficiencies while expanding service capabilities for existing OEM and asset owner partners across multiple states.
The acquisition would represent Otovo’s seventh transaction since its December 2025 merger and follows a broader strategy of acquiring service-focused energy businesses and integrating them into its technology platform. Previous transactions included customer portfolio acquisitions from Zolar, Soly, and Solcellespesialisten, as well as the acquisitions of Freedom Power, Solar Service Professionals, and EnergyAid.
Otovo said the letter of intent remains subject to due diligence, corporate approvals, definitive agreements, and customary closing conditions.
KEY QUOTES:
“SST is our seventh transaction since the December 2025 merger and follows the playbook we committed to: accretive acquisitions of high-quality service businesses, integrating them onto the Endurance platform, and building the scale. SST’s expertise and coast-to-coast footprint is a strategic asset, and we look forward to welcoming the SST team to Otovo.”
William J. (John) Berger, CEO, Otovo
“Joining forces with Otovo represents an exciting opportunity to leverage cutting-edge AI technology while maintaining the high-quality, customer-focused service SST is known for. Otovo’s vision for integrated energy solutions aligns perfectly with our commitment to ensuring optimal performance of solar assets. Together, we’ll deliver even greater value to customers facing rising electricity prices and the challenge of maintaining their energy investments.”
Matt Alestra, CEO, SunSystem Technology
